Morocco Finance Bill 2027: First Part Passed by 179 Votes
Morocco's Chamber of Representatives passed the first part of the 2027 Finance Bill 179-126, after a 23-17 committee vote, in a budget targeting 3.7% growth and allocating 62 billion dirhams to social measures.
Morocco's Chamber of Representatives adopted, on Saturday evening, the first part of the 2027 Finance Bill (PLF 2027, bill no. 60.26), by a majority of 179 votes in favor to 126 against, with no abstentions, according to Al3omk. The vote comes two days after the same text was approved by the Finance and Economic Development Committee of the Chamber on 12 November, by 23 votes to 17, with no abstentions. The Chamber must now debate the bill's second part before voting on the text as a whole.
Five pillars of the budget bill
The 2027 Finance Bill rests on five main pillars: restoring purchasing power and consolidating the foundations of the social state, integrating youth into education, training and decent employment, accelerating advanced regionalization and integrated territorial development programs, strengthening water, energy, food and digital sovereignty, and building an economy able to finance social ambitions while preserving financial balances. On this basis, the government is targeting economic growth of 3.7%, with the budget deficit capped at 3%.
Why is the government betting on 3.7% growth?
Economy and Finance Minister Fouzi Lekjaa defended the 3.7% growth hypothesis before the Finance Committee, describing it as combining "realism and caution" amid international geopolitical turbulence, even though the government's ambition exceeds the 5% threshold. He revealed that the bill assumes an oil price of $75 a barrel, even though it stood at $110 at the time, based on an average of international forecasts ranging between $70 and $78 a barrel, as well as a butane gas price of $623 a ton, while inflation is expected to stabilize around 1.5%. Lekjaa forecast tax revenue reaching 423 billion dirhams in 2027, up 9.6% from end-2026 projections, with corporate tax revenue rising by 9.1%.
62 billion dirhams for social measures
Lekjaa revealed that the cost of social measures is close to 62 billion dirhams, equivalent to 4.5% of GDP, as part of an effort to fight precariousness alongside a gradual increase in direct support for families to cope with inflation, while acknowledging rising prices for basic goods. In practice, this means a significant share of the 2027 budget is aimed directly at easing the cost of living for Moroccan households, not only at financing large-scale projects.
Justice ministry's budget nearly fell, passed by a single vote
In an episode that exposed the weak attendance of majority MPs during votes on sectoral budgets, a source on the Justice and Legislation Committee told Alyaoum24 that the Justice Ministry's budget nearly failed within the committee, before passing by a single-vote margin, with 14 votes in favor against 13 against, after the committee chair gave members time to wait for a majority MP to arrive before closing the vote.
| Stage | Date | For | Against | Abstentions |
|---|---|---|---|---|
| Finance and Economic Development Committee | 12 November 2026 | 23 | 17 | 0 |
| Plenary session, Chamber of Representatives | 14 November 2026 | 179 | 126 | 0 |
According to the Finance Committee's report cited by Le Matin, a total of 291 amendments were submitted on the bill's first part: 59 were accepted, 116 rejected and 112 withdrawn, while four further amendments will be put to a vote when the second part is examined, three tabled by the government and one by the Alliance de la Gauche parliamentary group. The bill's legislative path now moves to debating and voting on the second part, before a vote on the bill as a whole, per the program announced by the Chamber of Representatives.